Volkswagen visits China headquarters to promote local partners and new energy ecosystem construction

According to news on October 27, Volkswagen passenger car brand CEO Shi Wentao and members of the Volkswagen brand board of directors recently visited V-SPACE, the headquarters of Volkswagen China, to communicate with the team, joint venture partners and dealers. It is understood that China, as Volkswagen's most important market, is the core subject of its ACCELERATE strategy. Volkswagen is developing rapidly at "China speed." The recently established Volkswagen Technology China Co., Ltd. (VCTC) strengthens R&D and procurement capabilities in the fields of electrification and digitalization. In addition, Volkswagen plans to introduce more local partners to build a new energy ecosystem in China. In addition, Volkswagen is also accelerating the launch of pure electric products that meet the needs of Chinese consumers.

1. ACCELERATE Strategy

Volkswagen launched the ACCELERATE transformation strategy in 2021 to accelerate its transformation into a software/mobile service provider.

2. Investments and goals

Volkswagen will invest approximately 16 billion euros in future trends such as electric vehicles, hybrid power and digitalization, and strive to achieve and maintain an operating profit margin of at least 6% by 2023.

3. Global electric offensive

Volkswagen plans to accelerate its global electric offensive. It is expected that by 2030, the share of electric vehicles in Volkswagen’s European sales will exceed 70%, twice the previous plan; at the same time, the company The goal is to increase the sales share of electric vehicles in the US and Chinese markets to more than 50%. To achieve this goal, Volkswagen will launch at least one new fully electric model every year.

4. Pay attention to the Chinese market

Volkswagen’s visit to its Chinese headquarters further demonstrates its emphasis on the Chinese market and accelerates its development in the fields of electrification and digitalization.

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